M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Wed, 29 Jan 2020, 10:33 AM


M+ Online Technical Focus - 11 Nov 2019

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The FBM KLCI inched higher to re-test the EMA120 level as the key index closed at around the 1,609.73 level last Friday. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Resistance will be pegged around the 1,620-1,630 levels. Support will be set around the 1,600 level.

FAVCO has experienced a consolidation breakout above the RM2.73 level on mildly improved volumes. The MACD Indicator has issued a BUY Signal, but the RSI is slightly overbought. Price may stage a mild pullback, before targeting the RM2.85 and RM2.95 levels. Support will be pegged around the RM2.65 level.

JHM has rebounded to close above the EMA9 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a short-term trendline breakout above the RM1.35 level, targeting the RM1.41-RM1.48 levels. Support will be anchored around the RM1.30 level.

SUCCESS has formed a breakout-pullback-continuation pattern above the EMA20 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may advance, targeting the RM1.05-RM1.12 levels. Support will be pegged around the RM0.94 level.

Source: Mplus Research - 11 Nov 2019

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Related Stocks

Chart Stock Name Last Change Volume 
FAVCO 2.78 -0.03 (1.07%) 54,200 
JHM 1.60 +0.01 (0.63%) 2,042,800 
SUCCESS 0.915 -0.005 (0.54%) 164,100 

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